what is the journal entries of a debit/credit notes in the
books of seller and purchaser's A/C.
- 8 Answers
- 72301 Views
- Accenture, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rajinder dhawan
Credit Note: Seller
( E.g) When we give any discount or sale return )
Discount Allowed/Sale Return xxxx ( Dr)
to Party Account xxxxx ( Cr)
Debit Note : Purchaser
( E.g When he received discount / purchase retrun to seller)
Party Account xxxxxx ( Dr)
to Discount Received/Purchase retunr xxxxx( Cr)
| Is This Answer Correct ? | 122 Yes | 13 No |
Answer / rdiyewar
IN THE BOOKS OF SELLER :-
debit note :-
by party a/c debit ----xxx
to sales a/c--------------xxx
to vat a/c---------------xxx
credit note:-
BY SALES A/C debit -----XXX
BY VAT A/C DEBIT -----XXX
TO PARTY A/C CR--------------XXX
in the books of purchaser the journal entry opposite
| Is This Answer Correct ? | 97 Yes | 30 No |
Answer / sridharan.v
IN THE BOOKS OF SELLER :-
Debitnote :-
party a/c Dr xxx
To sales a/c xxx
To vat a/c xxx
(Vat payable)
Creditnote:-
Sales A/C Dr XXX
VatA/C Dr XXX
(Vat Receivable)
TO partyA/C XXX
(Inthe books of purchaser the journal entry is just
opposite to the seller)
| Is This Answer Correct ? | 33 Yes | 6 No |
Answer / aslam
Credit note:
Debit Sales a/c
and Credit party's a/c
Debit note:
Debit party's a/c
And Credit the sales a/c
| Is This Answer Correct ? | 28 Yes | 11 No |
Answer / jitendra b jagtap
1) This debit not entry purchas account debit and vat
accounts credit. this entry in debit side.
2)This credit not entry seller account credit and vat
account debit entry.
| Is This Answer Correct ? | 22 Yes | 5 No |
Answer / revanth
debit note will issue when purchase returns
hence
party A/c (creditor) debit
to purchase returns A/c
credit note will issue when sales return hence
sales returns A/c debit
party a/c (debtor)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / kuldeep
debit note books of seller.
party a/c dr.
to Exps. a/c
| Is This Answer Correct ? | 25 Yes | 30 No |
What is TDS entry for a Firm? as previous years TDS is shown as opening balance in the books of the firm in current year and i don,t want in C.Y as its claimed in the Computation of Previous Years???? So what is the A/C ing entry
What is contingent liability? Ex
WHAT IS THE MEANING OF INDENTURE?
what is deffered revenue expenses and what is amortization expenses?
what is mutualfunds?
Dismissed the watchman after paying him Rs.200 towards his salary.? state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
What are the types of journal categories available in the Oracle AP?
Short Answer on ______Amortization
what is the journal?
What is the Limitation of LTC expenses? or Dedcution allowed in a year.............
what do you mean by fixed asset?
25 Answers Baba Group, Capital IQ, Orchid,
Expand-----ADRC
Audit 
